There were no other bids…PSU felt that we got an offer that was above market value, so we jumped on it.
Stadium Vote:
- Thread starter PSUFTG
- Start date
You may be correct as well.
Perhaps they approached a few people with the idea, and only one entity took interest in it. I have seen that before (althought not with regards to naming rights).
Perhaps $50MM over 15 years is the only offer they recieved, or, based on an initial canvas, was the best offer they could possibly recieve for the naming rights and they decided to go with it.
Bids are generally put out so that the public entity gets the lowest responsible bid - i.e. the lowest price for a specific project from someone who knows how to do the project. The tenet is that you want to be protective of public dollars (insert anti government comment here).
I don't know if bids work in the opposite direction, where you are trying to get the highest price for something. I think that would be more along the lines of an auction.
Have other Universities (public or private) gone through a bid or auction for naming rights? (I honestly don't know).
Again (and you responded twice to me so I am doing the same). Are bids taken for naming rights? It's more of an auction than a bid (see my other response to you on this).
F&I/Board of Trustees Meeting - Penn State MediaSpace
My comments begin at around the 31 minute mark, and again at the 52:20 mark...... but there is much to see there throughout the video.
The first 30 minutes are of the FINANCE Committee (the first 13 being essentially the "presentation", and then some comments until around the 28:30 mark - followed by the Committee vote, 7-2 in favor).
Then the FULL BOARD meeting begins...... leading up to the vote - which went 22 FOR, 8 AGAINST
Stadium field naming vote:
Final tally was 22-8 in favor (6 absentees)
When the video is available, I will post it. Some may be interested in the comments and conversations.
No Votes:
Barry Fenchak
Anthony Lubrano
Jay Paterno
Ted Brown.
Matt McGloin
Suzan Collins (Governor Appointee)
Dan Delligatti (Governor Appointee)
Brandon Short
Other Alumni Trustees:
Voting for: Carl Nassib and Ali Krieger
Kelly Lynch - Current Trustee (Alum Assoc), who is also currently a candidate for moving into an Alumni Seat, also voted Yes
Absent: Christa Hasenkopf
My comments begin at around the 31 minute mark, and again at the 52:20 mark...... but there is much to see there throughout the video.
The first 30 minutes are of the FINANCE Committee (the first 13 being essentially the "presentation", and then some comments until around the 28:30 mark - followed by the Committee vote, 7-2 in favor).
Then the FULL BOARD meeting begins...... leading up to the vote - which went 22 FOR, 8 AGAINST
Stadium field naming vote:
Final tally was 22-8 in favor (6 absentees)
When the video is available, I will post it. Some may be interested in the comments and conversations.
No Votes:
Barry Fenchak
Anthony Lubrano
Jay Paterno
Ted Brown.
Matt McGloin
Suzan Collins (Governor Appointee)
Dan Delligatti (Governor Appointee)
Brandon Short
Other Alumni Trustees:
Voting for: Carl Nassib and Ali Krieger
Kelly Lynch - Current Trustee (Alum Assoc), who is also currently a candidate for moving into an Alumni Seat, also voted Yes
Absent: Christa Hasenkopf
Penn State auctions the stuff that is sold from salvage... no reason to think they couldn't figure out how to auction this if they wanted.
Barry - when were the Trustees that weren't members of the F&I committee informed about today's meeting? It seemed hastily scheduled from the outside...unfortunate that so many Trustees were missing from a pretty big $ decision, but since this isn't a full-time job, it's understandable if the lead time was pretty small.
Thanks.
Thanks.
Watch the presentation to keep me honest, but from my recollection...PSU utilized an outside consultant to get an estimate of what the naming rights to the field might be worth. We were given a figure of $28 million (if I recall). Taking this offer of $50 million meant that it was almost twice of market value, and no one else was getting a cut of it (I'm sure if it goes through an RFP, a search firm is getting a nice chunk of the cash). From that standpoint, it does make sense as to why some would want to move forward (not saying that it was the right decision to, but just adding that context).
And all of that makes sense. If you can keep the $12.5MM in pocket and not give it to a 3rd party search firm, then kudos to you.
I will say something that will probably upset a lot of people-I don't think the BoT did this with the intention of screwing over Joe (as much as it pains me to say that). I honestly don't think they place as much emphasis on the stadium being named after Joe as a lot of alumni do. It would have been nice for them to consider Joe and I would have preferred it, but I don't think that it was in the forefront of their thoughts.
The question I have is where are the Lettermen?.....where are the guys who are being paid big NFL contracts? Like Saquon...$42m per and Godwin...$22m per and others.
Why would Saquon Barkley or Chris Godwin donate any substantial sum of money to name the field after a coach who they never met and never played for?
Hmmmm.....so why donate to an NIL or a scholarship fund. I have no connection to those athletes or students.......oh, other than they are associated with Penn State. So, in your mind, Joe's legacy means nothing to Barkley or Godwin.....or any player whose played at Penn State?
I don’t see why they would particularly care to the degree that it would motivate them to donate seven figures to name the football field after a coach that they never had a relationship with, no.
If anything, they might view his legacy as making their playing time at Penn State significantly more difficult than it needed to be, what with the scholarship limitations that existed during both of their times at Penn State.
I’d add if they were ever to do anything with Paterno, it would be in permanence - not over a set period of time. This is a win for the school I think though would be interested to see what, if any, other bids there were.
Who said anything about making seven figure donations. I mentioned that there are Lettermen, including Barkley and Godwin, who have huge contracts who maybe could make some measurable donation to their Alma Mater to honor a coach who contributed so much of himself to the school that gave them an opportunity to play and help propel them onto successful pro careers. It's like any alum, making a donation to PSU in honor of someone who gave so much to the school. But maybe only knows of their legacy and never knew them. This is done in all walks of life all the time.
Your last statement about Joe's legacy making it more difficult for them is simply ridiculous.
Last edited:
What amazes me is the University of Washington signed a deal with Alaska Airlines in 2015 for 41 million over 10 years, clearly better than ours and signed 10 years ago. That deal should be up for renewal this year. It will be interesting to see how that pans out.
The Washington deal also includes the naming rights to their basketball arena, as well as the field at the football stadium and some sort of athletics village. It would be like if we renamed the BJC the “West Shore Home Center” for the same all-in price.
You should look into what all the Washington deal includes. Many things that this one doesn’t. But that would require you to research instead of going wax poetic about Penn State while playing the world’s smallest violin.
It takes absolutely no effort to pull a number out of thin air and say ‘we can raise X amount if only we named the field after Joe’. Anyone can do it. You don’t have to be a BOT member, you don’t have to be a fundraiser or an AD or anything special to do that. Anyone can write a super long message board post complaining and moaning about how something needs to happen and then move on with their life and do nothing about it.
If you’re serious about something, if you *really* want it to happen, get off your *** and do something about it. Prove yourself right. Go fundraise and present that to the AD,
I’m gonna use BWI as an example here. Success With Honor told us all that they would fundraise and make money for basketball *if only they had the people to do it*. Well, us here raised more in a week than they did over their entire existence for basketball NIL. Off a freaking message board competition @MacwoodFleetPSU designed on a whim. People here posted screen shots and receipts of proof of money. And then we did it again the following year. Fundraising is hard, getting people to say yes is hard. Trust me on that, I’ve had too much experience that I never expected to get when basketball and Penn State’s NIL collective blew up. But, you know what? At least we all here raised our hand to help. And we proved that, hey, Penn Staters will step up if you ask them to. Even for basketball.
That’s so much more than the Paterno Field people have done. That’s so much more than @Lubrano and Fenchak and all the people who've been talking for years about this have ever done. Those guys are just dictating internet message board posts in board meetings and tweeting. It’s easy to do that. They haven’t collected real, verifiable pledges to the tune of $50 million. They haven’t actually done the legwork to make what they wanted to happen, happen. They just yelled and complained and bitched and moaned to make themselves the center of the show using someone elses name.
If these people are serious, they’re collecting refundable donations today. They would’ve been doing it for 15 years rather than use their platform for ways to get their own names in the headlines. Meanwhile, Pat Kraft (who isn’t my favorite person as you all know) and BJ Werzyn stepped up and said ‘we’re gonna do something’. They did more work than the Paterno crowd ever did.
So you know what? Action makes something happen. BS walks. Either pony up or shut up. Sick of this ****. Either go fundraise and make an offer or stop complaining.
If you’re serious about something, if you *really* want it to happen, get off your *** and do something about it. Prove yourself right. Go fundraise and present that to the AD,
I’m gonna use BWI as an example here. Success With Honor told us all that they would fundraise and make money for basketball *if only they had the people to do it*. Well, us here raised more in a week than they did over their entire existence for basketball NIL. Off a freaking message board competition @MacwoodFleetPSU designed on a whim. People here posted screen shots and receipts of proof of money. And then we did it again the following year. Fundraising is hard, getting people to say yes is hard. Trust me on that, I’ve had too much experience that I never expected to get when basketball and Penn State’s NIL collective blew up. But, you know what? At least we all here raised our hand to help. And we proved that, hey, Penn Staters will step up if you ask them to. Even for basketball.
That’s so much more than the Paterno Field people have done. That’s so much more than @Lubrano and Fenchak and all the people who've been talking for years about this have ever done. Those guys are just dictating internet message board posts in board meetings and tweeting. It’s easy to do that. They haven’t collected real, verifiable pledges to the tune of $50 million. They haven’t actually done the legwork to make what they wanted to happen, happen. They just yelled and complained and bitched and moaned to make themselves the center of the show using someone elses name.
If these people are serious, they’re collecting refundable donations today. They would’ve been doing it for 15 years rather than use their platform for ways to get their own names in the headlines. Meanwhile, Pat Kraft (who isn’t my favorite person as you all know) and BJ Werzyn stepped up and said ‘we’re gonna do something’. They did more work than the Paterno crowd ever did.
So you know what? Action makes something happen. BS walks. Either pony up or shut up. Sick of this ****. Either go fundraise and make an offer or stop complaining.
$50M rolled into the football program today, well above comps and the projection from a 3rd party, and the same people ***** about it and say they’re not going to donate.
That’s ok we’re doing just fine without you
That’s ok we’re doing just fine without you
....just so I understand.....this post wasn't complaining? Oh, BTW, I was unaware that Kraft isn't one of your favorite people. So thanks for that info.
Enables a small, self-perpetuating cabal to run everything without serious challenges
Welcome to O'BrienFranklin Field at Beaver Stadium!
You’d think it would be cabals to the wall if there were fewer of them. Where would the checks and balances come from?
I attended my first game at Beaver Stadium in1966.I remember what it looked like. How did "we" get to the current version of Beaver Stadium? Please explain it to me omitting Joe.
Perhaps you should not make assumptions. In fact I know quite a lot about the deal. I never said it was just about football stadium naming rights. My cousin lives in Seattle, is a UW grad, and works about 5 miles from campus. We have talked about the deal many times through the years. Now that the Huskies have joined the conference, we speak about once a month. Based upon all he has told me in the past decade, I would take a similar deal, adjusted for inflation, in a heartbeat.
No. But I’m sure he and others on this board will talk about the fantasy/fake $100m mentioned at todays BOT meeting.
What kind of repeated conversations are you having about the naming rights of a college's athletic facilities?
Conversation #1:
"So, uh, I see UWash signed a deal with Alaska Airlines ... 10 years, $41M ... Alaska Airlines is now the official airline of UWash, gets naming rights to the football field, gets naming/promotional rights to all the facilities in the UWash Athletics Village."
"Yup."
"Cool, cool."
Conversation #2:
"So, uh, I've been meaning to ask ... that 10 year naming rights deal UWash has with Alaska Airlines ... still in place?"
"Yup."
"Cool, cool."
Conversation #3:
"So, uh, UWash .."
"Yeah, dude, Alaska Airlines. Agreement still in place."
"Cool, cool."
"Hey, I have to go ... breaking news on the UWash/Alaska Airlines naming rights deal. Big updates."
Conversation #4:
"So, yeah ... remember UWash and Alaska Airlines ..."
"Hello, you have reached General Chang's Chicken ..."
"I know it's you, cuz ... we were just talking about if any of the rocks around your house have moved lately."
"If you'd like to place an order to pickup, please hold ..."
Conversation #5:
"The number you have dialed has been disconnected ... "
I guess this is what passes for intelligent leadership at psu these days.
For context, go to the 25:00 minute mark of the recording of the bot meeting provided by Barry.
For context, go to the 25:00 minute mark of the recording of the bot meeting provided by Barry.
He has been giving me some good natured ribbing about how no one wanted to put their name on anything Penn State related except, well, ...lets say he took "Beaver" to mean something else. He was very proud of UW having the best naming deal in college athletics. He had a lot of insight into the process. Its not like that's all we talked about, but the topic comes up a couple of times a year.
March 11th
I'm editing this post to note that I will be off the Board for an extended period, certainly through the summer and perhaps longer. For 40 years Penn State was a big part of my life, but now the very thought of it fills me with despair. Sandusky...the treatment of Joe...the diminishing reputation, academically and otherwise..the clowns that run the place...on and on. Yes, you've heard it all from me before, and that's all the more reason for me to take a break. Perhaps I will come back with renewed enthusiasm for my Alma Mater, or perhaps I won't be back at all. For now, I just wanted to let those few who might ask about my absence to know that as of March 11, 2025, I am still alive and can still tie my shoes. With that, I wish all who visit here, friend or foe, peace, health, and happiness. May God bless us, every one.
Last edited:
